Q&A: Taking retirement savings without penalty

April 5, 2015 10:01 AM

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Q&A: Taking retirement savings without penalty

A: So sorry to hear about the layoff. I hope this answer will ease some of the pain.

Taxable withdrawals taken from a qualified retirement savings plan before age 59½ are typically subject to a 10% early distribution penalty, says Ben Norquist, president and CEO of Convergent Retirement Plan Solutions in Brainerd, Minn.

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